Helping Clients Obtain Mortgage Modifications to Keep Their South Florida Homes
Falling behind on mortgage payments can put your home at risk. You should never ignore this situation, as you can swiftly lose your home if your lender files for foreclosure. Instead, consult with an experienced mortgage modification lawyer in Boca Raton about your options regarding your mortgage loan. Contact the Law Office of Eleni Noble Zarbalas, P.A.
How Mortgage Modification Works
Many people cannot afford their entire mortgage payment, and catching up on past-due payments seems impossible. You might not realize that many borrowers are able to obtain a modification of their loan terms to make their payments more affordable and help them catch up on arrears. Mortgage modifications can involve:
- Extending the terms of the loan
- Lowering interest rates
- Repayment plans for arrears
- Payoff settlements for second mortgages
However, mortgage lenders have no obligation to offer modifications, and they are generally not responsive to requests directly from homeowners. It is important to have an experienced lawyer negotiating with your lender on your behalf.
When is a Modification Available?
Lenders might agree to a mortgage modification as an alternative to foreclosure. If your lender filed a foreclosure action, our foreclosure defense attorney can negotiate a settlement that provides a loan modification and dismisses the foreclosure case.
However, you do not have to wait for a foreclosure case to negotiate with your lender. If you are falling behind on payments, you can often prevent a foreclosure filing if you have the right lawyer who can obtain a reasonable modification for you.
Discuss Your Options with a Mortgage Modification Lawyer in Boca Raton
The Law Office of Eleni Noble Zarbalas, P.A. regularly obtains loan modifications for homeowners to help them stay in their homes. If you need assistance, contact a Boca Raton mortgage modification attorney right away.